Ecco reports profit in 2015, revenues up 7.4 percent

For the sixth consecutive year, Ecco managed to increase profits and increase sales. Net sales reached 1.3 billion euros (1.4 billion dollars), and profit before tax was 183 million euros (204 million dollars).

“2015 was characterised by Ecco successfully launching innovative collections and investing in the future. These results were achieved by the organisation executing our strategies well, a prerequisite for continuous profit improvement in challenging markets worldwide”, said CEO, Dieter Kasprzak.

2015 financial highlights indicate positive results

Net revenue increased by 7.4 percent and for the first time, sales outside Europe grew to more than 50 percent of the total Group revenue. Profit before tax increased 4 percent, with a profit ratio of 14.6 percent.

Ecco and its partners opened 174 new shops, and rationalised the shop portfolio, resulting in a net of 95 openings.

“The result is satisfactory and slightly better than the level of 176 million euros achieved last year”, said Ecco CFO, Steen Borgholm, adding, “We managed to close the significant gap created by the drop in sales in Europe. This was done through accelerated shop openings, launching more e-commerce sites, and working closely with our wholesale partners. With the exception of Russia and Ukraine, we generated sales growth in all three channels, retail, e-commerce, and wholesale - and in all three international regions.”